The Daily Gazette
The Locally Owned Voice Of The Capital Region

Amsterdam officials slammed in audit

Revenues overestimated, reserves depleted

Text Size: A | A

The city of Amsterdam assumed more than $16 million in debt by March 2013 to pay for expenses typically funded by normal budget operations, according to a state audit. Borrowing to pay daily expenses is one of several issues raised in the audit released by the state Comptroller’s Office on Friday. Despite the availability of borrowed money, city officials whittled away at $3.5 million in reserves starting in 2007, leaving slightly more than $620,000 by ...

You Must or Subscribe to Continue
subscribe to the Daily Gazette
Individual stories can be found and purchased from our Archives for $2.00

Enjoy this story? Share it!